Hewlett Packard Enterprise is partnering with Nvidia to strengthen its position in the artificial intelligence race, unveiling plans to launch a portfolio of generative AI solutions. This collaboration will provide enterprise customers with AI hardware and software tools developed by both companies, along with consulting services for successful AI integration.
The move is aimed at meeting the growing demand for AI solutions in the private cloud, as businesses are increasingly wary of using public cloud platforms for sensitive data. HPE’s offering will allow users to utilize pre-trained large language models from OpenAI or Nvidia and customize them with their private data.
HPE stock currently has a Hold consensus rating, with an Analysts’ Average Price Target of $21.10 implying a potential downside of 3.39% from current levels. In comparison, Nvidia stock has a Strong Buy consensus rating, with an average price target of $130.29 representing a potential downside of 3.9% from current levels.
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